Amid the positives that the Retail Distribution Review (RDR) is likely to bring, especially in reference to the standard of financial advice given, there have been those that have expressed their concern about the amount of people that could be set to miss out on advice in the future. It is thought that the fees that will be charged from the New Year by financial advisers will make it impossible for some to receive the advice they really need.
When will the recession end? This is a question that will have been on the lips of all of those doing business within the UK since 2008, and finally it looks as though there may be an answer. Reports into the state of the UK economy have revealed that we could be nearing the end of the double-dip recession that has blighted the country on and off since the second quarter of 2008.
Figures released later this week are expected to show that the UK economy is on the mend, and heading back towards growth
New figures have revealed that the vast majority of adults in the UK are in some sort of debt, and that one in three expects they will never be able to become debt-free.
Fewer than 10pc of people aged over 30 in Britain say they have never had to borrow money from anyone, and due to this have never experienced debt. However this figure does not take into account mortgage borrowing, suggesting the figures would be much lower still should this be taken into account.
The amount of shops left vacant at the end of June has risen to have risen to around one in seven as retailers struggle to cope with the implications of the double-dip recession.
A report from Local Data Company (LDC) made the findings, and revealed that vacancies of shops has increased in all regions across the UK in 2012, apart from London, while the rate of capital fell from 10.7pc to 10.1pc.
A poll from members of the Institute of Directors (IoD) has revealed that the majority of British businesses expect the recession to continue for the rest of the year, into 2013.
This demonstrates the low confidence that UK businesses have in the economy, and should act as a wakeup call for the Government, who should be doing more to restore this confidence, according to the IoD.
The International Monetary Fund (IMF) has delivered a blow to the UK economy and the Chancellor, by slashing the growth forecast for 2012. The figures, although not hugely varied, will mean that instead of 0.2pc growth for the year as predicted in July, the UK will continue to be battle against recession as the economy shrinks by 0.4pc.
Unemployment within the UK has fallen in the past quarter, down to a low of 8pc, possibly due to increased hiring associated with the Olympic Games.
Official figures from the Office of National Statistics confirmed that some 46,000 people more than the previous three month period were employed; meaning the overall previous rate of 8.2pc was reduced to 8pc
Analysts have delivered a blow to the hopes that the Olympics would provide the UK with a major economic boost, after it was claimed that the event had not returned significant financial gains to the UK, after £9.3bn was spent in preparing for, and running the games.
The UK has been given more bad news from the Bank of England (BoE), after zero growth was forecast for the remainder of 2012. This means that 5 years on from the beginning of the global economic crisis, the double-dip recession being experienced by the UK is showing no signs of recovery.
There are increasing concerns over the effect the Retail Distribution Review (RDR) will have on mid-market clients seeking financial advice, as many believe they will be simply priced out of the market.
There are two points to be considered when looking at mid-market clients; their value to Independent Financial Advisors (IFA’s), and their willingness to pay upfront fees for financial advice.
